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Vp PLC - Harrogate-based equipment rental firm - Swings to a pretax profit of £35.6 million in the year ended March 31 from a loss of £2.3 million the year before. Revenue rises 14% to £350.9 million from £308.0 million. Attributes this to a good recovery from the pandemic, with customer activity moving back towards pre-pandemic levels. Lifts final dividend by 2.0% to 25.5 pence from 25.0p, which takes its total payout for the year to 36.0p. This reflects a 44% increase from 25.0p the year before.
Looking ahead, Chair Jeremy Pilkington says: ‘I am optimistic of Vp's future prospects and believe our core markets will continue to offer good opportunities for further increases in demand for our products and services in the new financial year. The group is in a strong position to continue to embrace those new opportunities as well as managing any potential headwinds.’
Current stock price: 931.00 pence, down 1.0% on Wednesday
12-month change: up 7.3%
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